Aztecsoft approves 2:11 share swap for MindTree merger

Mumbai: Aztecsoft today said the board has approved the share swap ratio for the merger of the company with MindTree.

The board has approved the swap ratio under which Aztecsoft’s shareholders would be entitled to two equity shares in MindTree for every 11 shares held.

Post announcement, the shares of the company soared 18.23% to touch a high of Rs52.85.

In a filing to the BSE, Aztecsoft said its board has approved the swap ratio as two equity share of MindTree of Rs10 each, for every 11 shares of Rs3 each of Aztecsoft.

Pursuant to the merger, MindTree now holds about 80% stake in Aztecsoft.

Shares of Aztecsoft were later trading at Rs50.05, up 11.97%, while MindTree was down marginally at Rs308.05 on the BSE.

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